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The Redistribution of Wealth In America Continues …

by on Monday, November 9, 2009 at 3:41 pm EDT in Politics

The fleecing of the American Taxpayer continues unabated (as reported by Bloomberg):

Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.’s investment bank, survivors of the worst financial crisis since the Great Depression, are set to pay record bonuses this year.

The firms — the three biggest banks to exit the Troubled Asset Relief Program (TARP) — will hand out $29.7 billion in bonuses, according to analysts’ estimates. That’s up 60 percent from last year and more than the previous high of $26.8 billion in 2007. The money, split among 119,000 employees, equals $250,400 each, almost five times the $50,303 median household income in the U.S. last year, data compiled by Bloomberg show.

Meanwhile, the rest of the country continues to suffer from the highest unemployment rate since 1983.

UPDATE:

Ed Schultz rips Congressman Barney Frank a new one tonight for his dereliction of duty on Wall Street Reform.   Frank tries to deflect the inexcusable $30 billion in bonuses (mentioned above) by stressing that he’ll be able to tax them on this income:

[youtube]http://www.youtube.com/watch?v=Q_jjB8myhHE[/youtube]

Paul Krugman Warns About The Right-Wing’s Hold On GOP

by on Monday, November 9, 2009 at 2:26 pm EDT in Politics

Krugman makes some interesting points in his NY Times column about the Right-Wing’s new hold over the GOP.

First, he addresses the anti-health care reform rally last week in front of our nation’s capitol, and some of the now-all-too-common ‘grotesque’ visuals and rhetoric (i.e. “large signs showing piles of bodies at Dachau with the caption ‘National Socialist Healthcare.'”):

The key thing to understand about that rally is that it wasn’t a fringe event. It was sponsored by the House Republican leadership — in fact, it was officially billed as a G.O.P. press conference. Senior lawmakers were in attendance, and apparently had no problem with the tone of the proceedings. […]

What all this shows is that the G.O.P. has been taken over by the people it used to exploit.

He gives some historic background on the GOP’s courtship of the far-right:

With the rise of Ronald Reagan: Republican politicians began to win elections in part by catering to the passions of the angry right.

Until recently, however, that catering mostly took the form of empty symbolism. Once elections were won, the issues that fired up the base almost always took a back seat to the economic concerns of the elite.

But something snapped last year. Conservatives had long believed that history was on their side, so the G.O.P. establishment could, in effect, urge hard-right activists to wait just a little longer: once the party consolidated its hold on power, they’d get what they wanted. After the Democratic sweep, however, extremists could no longer be fobbed off with promises of future glory.

Furthermore, the loss of both Congress and the White House left a power vacuum in a party accustomed to top-down management. At this point Newt Gingrich is what passes for a sober, reasonable elder statesman of the G.O.P. And he has no authority: Republican voters ignored his call to support a relatively moderate, electable candidate in New York’s special Congressional election.

Real power in the party rests, instead, with the likes of Rush Limbaugh, Glenn Beck and Sarah Palin (who at this point is more a media figure than a conventional politician). Because these people aren’t interested in actually governing, they feed the base’s frenzy instead of trying to curb or channel it. So all the old restraints are gone.

Krugman warns that the party of Beck and Limbaugh could make some serious gains in the midterm election, if only because Obama has been unable to stop the country’s economic bleeding (unemployment has now reached a 26-year high of 10.2%).  He cautions what this could mean:

if Tea Party Republicans do win big next year, what has already happened in California could happen at the national level. In California, the G.O.P. has essentially shrunk down to a rump party with no interest in actually governing — but that rump remains big enough to prevent anyone else from dealing with the state’s fiscal crisis. If this happens to America as a whole, as it all too easily could, the country could become effectively ungovernable in the midst of an ongoing economic disaster.

It sort of goes without saying, that if an ideological group as evil as the Nazis could come into power during extremely adverse economic times, who’s to say we won’t end up with an ever-increasing number of scary, fear mongering, destructive politicians of our own during this economic slide?  Probably a good rule-of-thumb is to never take the far-right lightly …

Talk Radio Inflates 4,000 Attendees At GOP Anti-Health Care Reform Rally To ‘Millions’

by on Friday, November 6, 2009 at 10:46 am EDT in Politics

The audacity of this lie has got to make you laugh.  Remember how Fox News ‘personalities’ inflated the 60,000-70,000 attendees (as reported by the Washington DC Fire Department) at the 9/12 March as ‘millions’?  Well, the far-right have really outdone themselves this time.  Think Progress reveals :

On G. Gordon Liddy’s radio show today, producer Franklin Raff, who was on the ground at the rally, told guest host Joseph Farah that the crowd is “just as big or bigger than” the 9/12 rally, which Raff estimated “at about a million.”

Capitol Hill police told NBC’s Luke Russert that the crowd was about 4,000. At around 2 PM eastern time, Rep. Lynn Jenkins (R-KS) posted an aerial picture of the crowd on her TwitPic page, clearly showing a crowd far, far smaller than “a million”

Heh heh heh … You can hear the G. Gordon Liddy radio clip over at Think Progress.

UPDATE

Now Fox News, Michelle Bachmann, et al have gotten in on the act, inflating the numbers by 5 to 10 times the actual numbers:

[youtube]http://www.youtube.com/watch?v=lX8usVv0CfE[/youtube]

Sec. of State Hillary Clinton’s Diplomatic Skills Rival Those Of John Bolton’s

by on Thursday, November 5, 2009 at 8:12 pm EDT in Middle East, Politics, World

Nice work Hillary!  The fallout from her most recent world tour continues to materialize. First our nation’s chief diplomat completely offended the country of Pakistan.  Here’s how the Pakistan Daily appraised her visit with their officials and press: U.S. Secretary of State Hillary Clinton went on the offensive during her three-day visit to Pakistan that […]

Rep. Alan Grayson Discusses The Reality of No Health Care Coverage: 40% More Likely To Die

by on Thursday, November 5, 2009 at 1:16 pm EDT in Healthcare, Politics

Here’s an interesting clip of a speech by Rep. Alan Grayson discussing the necessity of Universal Health Care.  He identifies each Republican Congressman — since they are united in obstructing health care reform — and reads how many people are predicted to die in each of their respective districts next year, from lack of health […]

Gubernatorial Election Result Spin And The Mythical Independent Voter

by on Thursday, November 5, 2009 at 11:20 am EDT in Politics

In virtually every election where the Republican Party under-performs, the beltway pundits always attribute their defeats to an unenergized base.  In contrast, anytime Democrats under-perform, those same pundits tend to assert that Democrats have moved too far to the left to appease the middle — the Independents. Here’s neo-clown Michael Gerson’s spin on the Gubernatorial […]

Hillary Clinton’s Pandering To Israel Destroys U.S. Credibility On Middle East Peace

by on Tuesday, November 3, 2009 at 2:33 pm EDT in Middle East, Politics, World

U.S. Middle East policy has effectively come full-circle again, as it has done repeatedly for the past forty-plus years.  Every blue moon we get a U.S. President who dares to challenge Israel on its ethnic cleansing — as demonstrated by continued Palestinian home demolitions and Jewish-ONLY settlement expansion within the occupied territories (all interconnected by […]

How An Instant-Runoff Voting System Would Restore Democracy To America

by on Tuesday, November 3, 2009 at 10:34 am EDT in Politics

One year ago — as Americans counted down the final months of the Bush Presidency — a progressive firestorm ushered the Democrats into power with a resolute mandate for CHANGE.  The electorate had turned its back on nearly a decade of neo-con lies, the biggest warmongering con job in our nation’s history, war crimes, mismanaged […]

Forcing Democratic Politicians To Legislate Progressively

by on Monday, November 2, 2009 at 12:13 pm EDT in Politics

One thing has become crystal clear over these last nine months — the Democrats do not give a rat’s ass about the core concerns of the Progressive movement.  On the campaign trail ‘candidate’ Obama said all the right things and with eloquence; with passion.  He articulated a whole host of issues important to us, and […]

Goldstone To U.S. Congress: Your Resolution Condemning Gaza Investigation Is Rife With Factual Errors

by on Saturday, October 31, 2009 at 1:41 am EDT in Middle East, Politics, World

Steven Rosen, former director of foreign-policy issues at AIPAC — the right-winged Israel Lobby powerhouse — once told Jeffrey Goldberg: “You see this napkin?” he said. “In twenty-four hours, we could have the signatures of seventy senators on this napkin.” Well apparently, a ‘dirty napkin’ — of sorts — was passed around this week in […]